1995 (1) TMI 21

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....ion has been referred under section 256(1) of the Income-tax Act at the instance of the Department : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in upholding the order of the Commissioner of Income-tax (Appeals) in directing the Assessing Officer to allow carry forward of loss to the assessee although the assessee failed to file the return within the t....

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....ion of the Supreme Court in the case of Brij Mohan v. CIT [1979] 120 ITR 1, where it was held that a return filed within the extended period was a good return in the sense that the Income-tax Officer was bound to take it into consideration, affirmed the order passed by the Commissioner of Income-tax (Appeals). Hence, the present reference. We have heard Mr. D. K. Talukdar, learned counsel appeari....

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....the assessment is made, furnish the return for any previous year at any time before the end of the period specified in clause (b), and the provisions of sub-section (8) shall apply in every such case. The period referred to in clause (b)(iii) shall be, where the return relates to a previous year relevant to any other assessment year, two years from the end of such assessment year. Admittedly, the....